Tong-Yeoung Eco Power Co., Ltd. announced that it expects to receive KRW 160.045 billion in funding from HDC HOLDINGS CO.,Ltd, Hanhwa Construction Co., Ltd.
October 14, 2021
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Tong-Yeoung Eco Power Co., Ltd. announced a private placement of 32,009,000 shares at the price of KRW 5,000 per share for gross proceeds of KRW 160,045,000,000 on October 15, 2021. The transaction will include participation from existing investor HDC HOLDINGS CO.,Ltd for KRW 138,751,000,000 and new investor Hanhwa Construction Co., Ltd. for KRW 21,294,000,000. The shares are issued at par value. The number of stocks allocated per share is 36.9509987. The transaction has been approved by the board of directors of the company. The new share allocation date is October 18, 2021 and payment date is October 20, 2021. Post the transaction, HDC HOLDINGS CO.,Ltd and Hanhwa Construction Co., Ltd. will hold 87% and 13% stake in the company respectively.
HDC Holdings Co Ltd is a Korea-based company mainly engaged in the manufacture and sale of chemical products. The Company operates its business through six segments. The Construction segment is involved in the construction of residential buildings, public institutions and private companies, social infrastructures such as roads, harbors and railroads. The Petrochemical segment is involved in the production and sale of chemical products such as industrial pipes, packaging materials for food and life, as well as construction materials. The Musical Instrument segment produces and sells musical instruments such as pianos. The Distribution segment is involved in the operation of department stores and complex shopping malls, as well as real estate leasing. The Holding segment is engaged in the businesses of management consulting and building rental. The Other segment is engaged in building management, the operation of hotels and professional soccer show business.
Tong-Yeoung Eco Power Co., Ltd. announced that it expects to receive KRW 160.045 billion in funding from HDC HOLDINGS CO.,Ltd, Hanhwa Construction Co., Ltd.
HDC HOLDINGS CO.,LTD 
